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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated

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To: bull_dozer who wrote (118682)3/29/2022 6:17:55 PM
From: bull_dozer  Read Replies (1) of 119358
 
Ontario Hits Foreign Homebuyers With 20% Tax as Election Looms

Ontario is raising a tax on home purchases by some foreigners to 20% and removing exemptions as it seeks to cool a scorching real estate market.

The so-called non-resident speculation tax will apply to homes bought anywhere in the Canadian province by foreign nationals and foreign companies, provincial Finance Minister Peter Bethlenfalvy said in a statement. Currently, the tax is 15% and applies only to homes in Toronto and surrounding areas.

bloomberg.com
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